CNOOC orders mooring system for floating production platform

Chinese oil company CNOOC has ordered the on-vessel mooring system for a deepwater floating production platform to be deployed offshore China. The system will be supplied by Cargotec’s subsidiary MacGregor.

MacGregor said the delivery would take place in the first quarter of 2020.

The semi-submersible production unit is intended for operation in a deepwater natural gas field in the western part of the South China Sea, the mooring system supplier said.

Hoyesen added: “We understand the importance of ensuring critical system reliability and availability throughout the lifetime of a project, and are delighted that CNOOC has chosen us to be their partner in this project.”

In 2018, CNOOC Limited had a total net oil and gas production of 475 million barrels of oil equivalent (“BOE”), meeting the annual target set at the start of the year. During the year, CNOOC Limited made 17 commercial discoveries and successfully appraised 17 oil and gas structures.

The company’s net production target for 2019 is 480 million to 490 million barrels of oil equivalent (BOE), of which the output from China and overseas is expected to account for approximately 63% and 37%, respectively. The company’s net production for 2020 and 2021 are estimated to be 505 million to 515 million BOE and 535 million to 545 million BOE, respectively.